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GREEN DOT CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)
80
Note 12—Earnings per Common Share
We calculate EPS using the two-class method. Refer to Note 2 — Summary of Significant Accounting Policies for
a discussion of the calculation of EPS. The calculation of basic EPS and diluted EPS was as follows:
Year Ended December 31,
2012 2011 2010
(In thousands, except per share data)
Basic earnings per Class A common share
Net income $47,219 $52,083 $42,232
Income attributable to preferred stock (7,599) (558) (14,659)
Income attributable to other classes of common stock (6,719) (24,022) (24,408)
Net income allocated to Class A common stockholders 32,901 27,503 3,165
Weighted-average Class A shares issued and outstanding 29,698 22,238 2,980
Basic earnings per Class A common share $1.11 $1.24 $1.06
Diluted earnings per Class A common share
Net income allocated to Class A common stockholders $32,901 $27,503 $3,165
Allocated earnings to participating securities, net of re-allocated
earnings 6,592 23,585 24,366
Re-allocated earnings (980)(1,036) (231)
Diluted net income allocated to Class A common stockholders 38,513 50,052 27,300
Weighted-average Class A shares issued and outstanding 29,698 22,238 2,980
Dilutive potential common shares:
Class B common stock 6,150 19,822 24,796
Stock options 20 — —
Restricted stock units 43 3 —
Employee stock purchase plan 22 2 6
Diluted weighted-average Class A shares issued and outstanding 35,933 42,065 27,782
Diluted earnings per Class A common share $1.07 $1.19 $0.98
Year Ended December 31,
2012 2011 2010
(In thousands, except per share data)
Basic earnings per Class B common share
Net income $47,219 $52,083 $42,232
Income attributable to preferred stock (7,599) (558) (14,659)
Income attributable to other classes of common stock (34,301) (29,613) (4,644)
Net income allocated to Class B common stockholders 5,319 21,912 22,929
Weighted-average Class B shares issued and outstanding 4,801 17,718 21,589
Basic earnings per Class B common share $1.11 $1.24 $1.06
Diluted earnings per Class B common share
Net income allocated to Class B common stockholders $5,319 $21,912 $22,929
Re-allocated earnings 1,273 1,673 1,437
Diluted net income allocated to Class B common stockholders 6,592 23,585 24,366
Weighted-average Class B shares issued and outstanding 4,801 17,718 21,589
Dilutive potential common shares:
Stock options 1,349 2,104 3,061
Warrants —— 146
Diluted weighted-average Class B shares issued and outstanding 6,150 19,822 24,796
Diluted earnings per Class B common share $1.07 $1.19 $0.98
As of December 31, 2012, 1,030,632 shares of Class A common stock issued to Walmart were subject to our
repurchase right. Basic and diluted EPS for these shares were the same as basic and diluted EPS for our Class A
common stock for the years ended December 31, 2012 and 2011.